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Suppose that, in 1950, Japan had an initial per capita GDP of $12,000 per year and China had a per capita GDP of $5,000. But
Suppose that, in 1950, Japan had an initial per capita GDP of $12,000 per year and China had a per capita GDP of $5,000. But China is growing at 5 percent per year and Japan is growing at 2 percent per year. __________ is richer in 2000 with a per capita GDP of approximately
a. China; $137,608
b. Japan; $57,337
c. China; $57,337
d. Japan; $32,299
e. Not enough information is given.
Kindly state reason or explanation step by step thank you
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